Data released from the Nationwide also point to an annual gain, with property prices staging an almost unbelievable come back from their lows in February of 17.6% on the same survey.
One of the largest and often most under estimated drivers of the UK house price is consumer confidence, the reason that this mystical force is often under estimated is that bankers and economists find it difficult to gauge.
So will the UK public be responsible for the ever popular comeback of house price inflation? The simple economics of supply and demand will always affect the UK house price, and there are figures to suggest that the number of homes coming back on the market is increasing. The underlying fact that simply not enough new homes are being built to keep up with demand, will also play a significant part in the continuing story of the average UK house price.